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Pakissan.com;
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Wheat flour price to go up
KARACHI (June 20 2007): The price of wheat flour for retail is likely to increase after a meeting of the Flour Mills Association (Sindh Zone) today, the association said on Tuesday. "We will adjust the retail price of the commodity after the meeting and it will probably be increased by Rs 4-5 for a bag of 10 kg," a flour miller told Daily Times. Wheat flour is currently available in the market at Rs 16-17 per kg. Talking to Daily Times, chairman Sindh zone of the flourmills body, Ansar Javed said that the millers were forced to make some adjustments in the price as they were getting wheat on a higher price and were not even getting the adequate quota from the food department. Wheat prices stood at Rs 10,625 per tonne in the local market during the last week of April as compared to Rs 12,100 per tonne presently available in the local market. Mr Javed said that this rise in the flour price was due to the poor policies of the food department.
Sindh has also failed to meet its wheat procurement target due to high price in the local market, as it has procured around 570,000 tonnes of wheat against the target of 700,000 tonnes. He said that smuggling of wheat into Afghanistan was also among the major factors besides the hoarding and black-marketing that caused a rise in the wheat price. In addition there were no effective checks by the administration. Despite a federal government decision to suspend wheat export in May, there was no positive change in the local market. An official of the Sindh Food Department said the department has started taking action against the wheat hoarders by raiding warehouses under the Food Stuff Control Order, 1953. A ban on inter-provincial transportation of wheat grain was also on cards, he added.
According to the Sindh Food Department, millers and exporters have amassed about 150,000 million tones of wheat in different warehouses in Karachi to raise its price. The official said that after the raids, wheat would be available in the local market in plenty and the price of the commodity would decline by around Rs 550 per tonne to reach the previous price level of Rs 11,500 per tonne. The Sindh food department is closely monitoring the local market and wheat prices have been raised once again by Rs 400 per tonne to Rs 12,100 per tonne as compared to Rs 11,700 per tonne last week in the local market. razi syed
Courtesy Daily Times |
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